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A Home Equity Loan (or second mortgage) is a loan that uses the equity in your home as collateral. These loans offer lower interest rates and an affordable repayment plan to pay down both the principal balance and interest.
- Fixed interest rate and payment. (Contact us for today's rates)
- 75% - 90% Loan-to-Value. (Equity Value of Home)
- Flexible terms. (Up to 10 years)
- Prompt credit decision upon submission of completed application and required documentation.
Home equity loans are a great alternative to revolving lines of credit (like credit cards and home equity lines of credit).
A home equity loan may be the right for your:
- Home Improvement Project
- Debt Consolidation
- Vehicle Purchase
- Higher Education Expense
- Medical Expenses
- New Small Business Start Up
Questions? Contact a Friendship lender today.